Export prices for non-fragrant rice softened slightly, following the slowdown in domestic prices, as some millers started to
release their expensive stocks to minimize their losses. Trade sources reported that the continued weakening foreign demand has put downward pressure
on Thai rice export prices. Chinese import demand is reportedly not so strong as expected earlier. Also, trade sources reported that the recent Thai
government led – major Thai rice exporters delegates to promote the sales of white rice in China were difficult to stimulate the sales at the moment, as
the Chinese cancellation of recent Thai rice shipment remained in trouble.
As for the coming Philippines tender of 200,000 tons of white rice on July 1, 2004, trade source expected that Thai rice will likely get the deal of over
100,000 tons, as the current Thai prices could compete with the major competitor, like Vietnam. In addition, Thai rice supply is more secured, as
compared to the oversold position of Vietnam.
Exporter Observations Period Avg.?